London, Feb 18, 2026, 08:57 GMT — Regular session
- Shell shares barely budged in early London trading following new buyback announcements.
- Oil prices stuck close to two-week lows, with traders eyeing U.S.–Iran negotiations and ongoing supply risks.
- U.S. oil inventory data is on the radar, while Shell’s ex-dividend date comes up Feb. 19.
Shell’s shares barely budged in early London action this Wednesday, with the oil giant continuing its stock buybacks. Still, weaker crude prices weighed on the sector.
Shell hovered near 2,867 pence, roughly matching where it finished on Tuesday. The stock moved within a session range of 2,868 to 2,889 pence, based on delayed data.
The clock’s ticking and oil’s right back in focus. Brent hovered around $67.6 a barrel—not far off a two-week low—after sliding about 2% in the last session. Traders are navigating signals from U.S.–Iran nuclear talks, trying to parse what’s next.
Shell disclosed the purchase of 712,623 shares for cancellation on Feb. 17, executed on London and European exchanges. The transaction comes under its ongoing buyback program, which Morgan Stanley is managing according to pre-arranged guidelines.
The $3.5 billion buyback kicked off Feb. 5, with the company signaling it aims to wrap up the program before first-quarter 2026 results hit.
Sugandha Sachdeva, who runs SS WealthStreet out of New Delhi, said crude oil prices appear set for a technical bounce. But, she added, a finalised agreement is still out of reach.
Shell’s ADRs slipped roughly 1% on the New York exchange Tuesday, the last trade coming after regular hours.
European stocks edged higher in the morning session, the STOXX 600 climbing roughly 0.4%. Oil-related shares, however, continued to track moves in crude.
After years of rewarding shareholders, major oil companies are now facing investor pressure to clarify how they’ll keep production levels up. Shell, in particular, has been singled out for questions about the lifespan of its reserves and the depth of its project pipeline. “We think investors are likely to focus more on growth than distributions going forwards,” wrote Biraj Borkhataria at RBC Capital. Financial Times
Eni is considering stepping back into oil and gas trading, according to the Financial Times, eyeing the kind of big, volatility-fueled profits that Shell and BP have logged. The possibility underscores how quickly trading windfalls can sway sentiment when they hit the tape.
Buybacks might not hold up as well if crude drops further. Oil could come under pressure if talks with Iran gain traction, or if traders just start factoring in more supply. That’s a risk for the integrated majors.
Coming up, traders are eyeing U.S. crude stockpile figures—first from the American Petroleum Institute later Wednesday, then the Energy Information Administration on Thursday. Shell’s ordinary shares also go ex-dividend on Feb. 19.
